Trying to close on a carwash w RE

Trying to close on a carwash w RE

Spring Hill, FL · Member since 2015 · 5 posts · 0 votes

I'm trying to buy a carwash in 1.75 acres busy intersection, in business since 2002 , revenues of 580k and nets 350k semi absentee. Asking 1.5 willing to comeback 850k w 650k down. 

I'd love to find a private lender or partner . Confident seller will negotiate. Im also looking at apartment buildings in the area and multiple deals w 10% cap rate and upside potential. My credit is **** due to losing 1.7 m in Crypto winter 2018, but I'm a serial entrepreneur and can run this business with my eyes closed. Open to any idea that will help me get my acquisition company and commercial real estate firm off the ground securing our first cash flowing asset 

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  • Member since 2021 · 11 posts · 2 votes
    4y

    Dillon, I do financing nationally and am more than happy to discuss this with you to see if I can assist. Feel free to pm me.

  • Scott WolfPro Member
    Lender · Boca Raton, FL · Member since 2014 · 1k+ posts · 957 votes
    4y
    Quote from @Dillon Kreider:

    I'm trying to buy a carwash in 1.75 acres busy intersection, in business since 2002 , revenues of 580k and nets 350k semi absentee. Asking 1.5 willing to comeback 850k w 650k down. 

    I'd love to find a private lender or partner . Confident seller will negotiate. Im also looking at apartment buildings in the area and multiple deals w 10% cap rate and upside potential. My credit is **** due to losing 1.7 m in Crypto winter 2018, but I'm a serial entrepreneur and can run this business with my eyes closed. Open to any idea that will help me get my acquisition company and commercial real estate firm off the ground securing our first cash flowing asset 


     Dillion, how much can you bring to the table? What is the seller offering on the carry?  Is it all valued off the RE, or is the purchase split between the business and RE?

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